Suterra Wellness announced on September 11th the company has agreed to a licensing deal to create a brand of cannabis that uses Jimmy Buffet’s band name of “Coral Reefer”. The two companies will work to develop and market medicinal cannabis products and non-cannabis merchandise.

Coral Reefer’s medicinal and non-medicinal products will be solely distributed by Suterra retail store locations. Suterra plans the launch of Coral Reefer products in 2019 at Suterra locations in Florida.

This licensing decision came shortly after Suterra welcomed William Wrigley IV as chairman of the board. Wrigley’s investment management company, Wychwood Asset Management, has led Suterra’s series C equity fundraising to a total of over $100 million. William is of the same Wrigley family that founded the Wrigley gum company and, after he left his position as CEO in 2006, opened the Wrigley gum company to control outside of the Wrigley family for the first time since it was founded by William Wrigley Jr. in 1891.

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